Takefuji Sees Profit Hit
Linked to Subprime Crisis

By

Atsuko Fukase

Updated March 4, 2008 12:01 a.m. ET

TOKYO -- Takefuji Corp. said it may book as much as 30 billion yen ($289 million) in derivative-linked losses this fiscal year, becoming the first Japanese consumer lender to disclose it has been stung by the U.S. subprime problem.

Japan's fourth-largest consumer credit company said the potential losses were due to derivatives transactions arranged by Merrill Lynch Japan Securities, a unit of Merrill Lynch & Co. The company said...